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Electric Rates: Price Relief on the Way

Utility Rates

Virgin Islanders pay as much as five times the average U.S. rate for electricity, but the price is on its way down, providing relief for people on fixed incomes. Some older residents have been using candles at night to save on energy costs.

The territory traditionally has relied on imported crude oil to generate electricity. Recent moves to develop alternative energy sources have brought down the price, however, and consumer advocates expect the trend to continue.

AARP Virgin Islands is monitoring the work of the V.I. Water and Power Authority. The utility has created two solar-panel farms, retrofitted generators to accommodate the use of propane and natural gas, and is reinstituting a “hedge program” to lock in prices while fuel costs are low.

For updates, go to aarp.org/vi and facebook.com/aarpvi.

 

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